Real estate executives in Asia are better paid than their European counterparts, according to a new survey.
Asia-based respondents in the survey of corporate real estate professionals working for large corporations found that, on average, the Regional Head of Corporate Real Estate in Asia received 18 percent higher salaries than those in Europe. However, Asia is still lagging behind the U.S. where those in the corporate real estate profession receive on average five percent more than those in the equivalent roles in Asia.
A total of 76 percent of respondents also reported that their base salary increased from 2012 to 2013. Some 79 percent projected further increases in 2014. The average increase in base salary from 2012 to 2013 was six percent, according to a survey conducted by CoreNet Global and FPL Associates.
With globalisation and the ‘West to East’ trend prompting multinationals to expand or establish offices and headquarters in Asia-Pacific cities such as Singapore, Hong Kong and Shanghai, corporate real estate is fast becoming a key consideration for business leaders and strategists in the region.
“As the workplace, human resources and information technology become further entwined, corporate real estate continues to evolve into a more strategic corporate function,” said Angela Cain, Chief Executive Officer of CoreNet Global.
“That evolution, in addition to the economic recovery, is resulting in higher pay for a vast majority of corporate real estate and asset managers, as reflected in our survey.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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